What is the present value of a 8-year ordinary annuity with annual payments of $ 561...

Question

Question

What is the present value of a 8-year ordinary annuity with annual payments of $ 561 , evaluated at a 16 percent interest rate?

Answer 1

Answer #1

We shall use financial calculator for the same:

We compute by CPT PV=$2,436.75

Hence present value of ordinary annuity = $2,436.75

Answer 2

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